Accounts Receivable

3 Months Ended

Aug. 31, 2021

Accounts Receivable

Accounts Receivable

Note 5 – Accounts Receivable

Financial instruments that potentially subject us to concentrations of market or credit risk consist principally of trade receivables. While our trade receivables are diverse and represent a number of entities and geographic regions, the majority are with the U.S. government and its contractors and entities in the aviation industry. The composition of our accounts receivable is as follows:

	August 31,		May 31,
	2021		2021
U.S. Government contracts:
Trade receivables	$	23.0	$	24.1
Unbilled receivables		21.2		25.2
		44.2		49.3
All other customers:
Trade receivables		120.5		104.9
Unbilled receivables		16.1		12.5
		136.6		117.4
	$	180.8	$	166.7

We currently have past due accounts receivable owed by former commercial program customers primarily related to our exit from customer contracts in certain geographies, including Colombia and Peru. Our past due accounts receivable owed by these customers was $2.2 million as of August 31, 2021, which was net of allowance for doubtful accounts of $5.0 million.